A Comparison of Annual and Benchmark Input-Output Tables in Regional Economic Modeling

Mark Edward Stover

The Annals of Regional Science, 1994, vol. 28, issue 2, 223-28

Abstract: As the economy evolves, so do the coefficients of input-output (I-O) tables. Yet input substitutions occur primarily within economic sectors rather than between them. Consequently, at broader levels of economic aggregation, the annual revision of I-O tables may prove unnecessary. This study compares annual I-O accounts to a fixed benchmark I-O table using integrated-small area modeling of the industrial sector. The model uses annual data on manufacturing employment at primarily the 2-digit SIC level for the St. Louis metropolitan area. Annual I-O accounts do not appear to improve the estimation results at this degree of aggregation.

Date: 1994
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